Solar & Green are pleased to announce they are now offering a http://www.solarandgreen.co.uk/ — no deposit solar panel loan that allows households to install a green energy system and pay the loan through generated income and feed-in tariffs.
Homeowners who aren’t able to find the cash to install solar panels, now have the opportunity to borrow the money through Solar & Green’s partnership with Barclays Bank. They will be able to keep all the income it generates and use this to repay their loan. Loans are offered at up to £50,000 and have to be taken over 10 years. At a very competitive 9.34% APR they can be paid early without the early repayment fees that many loan suppliers impose.
Careful selection of banking partners, Barclays Bank means that up to 85% or more of applicants should qualify, just as long as they have a job and they own their home. A credit check in line with what mobile phone contracts implement is all that is needed according to Solar & Green.
Based in Yorkshire, the company install systems for both commercial solar and domestic buyers all over the UK. They say that whether buyers take up the loan or decide to pay in cash, they will be charging them the same price.
The system will then be owned by the homeowners and all income generated will be theirs to keep. This means the feed-in tariff payments and they will also enjoy saying money each month from generating their own power.
Even 3 years ago, to install a solar system cost somewhere in the region of £20,000 but with falling prices of solar panels, it’s now possible to install the same 4kWP solar panel system for just £7,250, inclusive of VAT.
Solar & Green Manager, Karen Hird says that it makes sense for homeowners to take this up. “These self funding solar loans mean that getting solar panels installed is now available to everybody who has a job and is a homeowner. The money generated can be kept – it’s becoming more exciting to get involved with green energy. Paying back for the system is just £92 a month. With this system you can use free solar power and still get a payment each month.”
To demonstrate what’s involved, here’s an example. Over 20 years the household with this model will gain £18,057 in addition to the value that will be added to their property and the good feeling that comes from lowering their carbon footprint.
Homeowners who want to know more about self funding solar, can do so on their website.
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